BSE Sensex and NSE Nifty start is likely to remain cautious as the traders will be eyeing the monsoon session of Parliament, which is likely to be stormy.
The Indian markets made a soft start of the week and ended mildly in red in last session.
The government has lined up a list of 11 bills for Parliament’s approval. Topping the list is the long-awaited 122nd Constitution Amendment Bill that aims to pave the way for the goods and services tax, GST.
Meanwhile, a Parliamentary Committee, which scrutinised the crucial GST Bill, has prepared a draft report wherein the government has agreed to provide compensation to states for any revenue loss for five years. The PSU stocks will be in action on report that Finance Minister Arun Jaitley is likely to hold a review meeting this week on disinvestment plans for the fiscal.
There will be some buzz in the power sector, as United Nations has said that India can lead the world in the area of sustainable energy from renewable sources, as its clean energy target is way ahead of the UN global goal.
The whole IT sector will be reacting to the numbers of Infosys, slated to be announced by the start of the trade today, traders will be eyeing the FY16 and FY17 guidance commentary and Q1 revenue growth numbers of the company, which can give clues about the performance of the whole IT pack in first quarter.
World Market
Asian shares got off to a wobbly start on Tuesday, while gold prices steadied after plunging more than 4 percent to five-year lows in the previous session.
MSCI’s broadest index of Asia-Pacific shares outside Japan opened flat, and was struggling to gain in early trade.
Japan’s Nikkei share index rose 0.5 percent as markets reopened after a public holiday on Monday.
Spot gold edged up about 0.2 percent on the day to $1,099.05 an ounce, after what traders described as a mini flash crash in the previous session.
The rout caused concern on Wall Street and kept U.S. share gains in check, though all three major indexes logged modest rises and the Nasdaq Composite still managed to mark its third straight record close. The S&P 500 ended less than 3 points from its record close on May 21.